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US bans China Telecom over national security concerns
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The US communications regulator has voted to revoke China Telecom’s licence in America over national security concerns in the latest pushback by Washington against what it deems possible infiltration of key networks by Chinese companies.
The decision by the US Federal Communications Commission (FCC) means China Telecom Americas must now discontinue US services within 60 days. China Telecom, the largest Chinese telecommunications company, has had authorisation to provide telecommunications services for nearly 20 years in the United States.
The news sent stocks in US-listed Chinese tech firms down sharply and their stocks in Hong Kong also suffered hefty selling, pulling the Hang Seng index down more than 1% lower.
The Hang Seng tech index lost
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